SNS Network Technology Bhd
bounced yesterday to halt a correction, which bodes well for another phase of an uptrend.
The counter, which has rallied by leaps and bounds over the last three months, could be taking a pause following the profit-taking as it gathers momentum to make another break higher.
Looking at the technical indices, the slow-stochastic has entered oversold territory, and could soon be turning its head for a bullish retracement.
The resistance rests at the share's historical trading peak of 95.5 sen, which could be broken going by the positive trend line.
Support for the share currently lies near the 21-day simple moving average (SMA) at 71, sen while further support is found at 57 sen.
Vstecs Bhd is shrugging off some recent profit-taking and regaining a bullish trajectory.
Yesterday, the counter surpassed the 14-day SMA line to indicate a return of positive momentum, enroute to a historical trading high of RM4.45.
The slow-stochastic has turned more bullish at 45 points, while the 14-day relative strength index (RSI) has risen to 64 points. The daily moving average convergence/divergence (MACD) line remains charting negative bars, but the descent of the MACD line is slowing.
Support is found at RM3.80 and RM3.18.
Dufu Technology Corp Bhd has returned above the 14-day SMA line to suggest resilience in the ongoing positive trend.
Going by the optimistic sentiment, the share should arrive at its recent trading high of RM2.77 before angling for a higher target of RM3.27.
The technical indices are mixed as the slow-stochastic rests at 33 points, although the RSI remains robust at 58 points. The MACD histogram, meanwhile, is slightly negative.
Support is pegged to RM2.45 and RM2.30.
The comments above do not represent a recommendation to buy or sell.
